Insulin Market in U.S. and Europe to Expand at 6.17% CAGR from 2016 to 2020 owing to Advances in Insulin Delivery Technology

Published Date : May 30, 2016

ALBANY, NY, May 30, 2016 - MarketResearchReports.biz has announced the addition of a recent report, titled ‘Insulin Market In The US And Europe 2016-2020,’ to its online repository. According to the report, the insulin market in the U.S. and Europe is expected to expand at a 6.17% CAGR from 2016 to 2020 owing to advancements in insulin delivery technology and the growing applications of insulin.

Insulin is produced by the beta cells of the pancreas. It is a hormone that regulates the levels of blood glucose by encouraging cells to absorb glucose from the blood. Glucose is converted into energy in the cells, which is then used by muscles and tissues to perform their respective physiological functions. This procedure is restricted in diabetic people, which results in the accumulation of extra glucose in the blood. This condition is commonly known as hyperglycemia; it damages the tissues of the body over time, resulting in many complications such as diabetic nephropathy and diabetic retinopathy. Insulin is used to cure Type 1 and Type 2 diabetes.

The U.S. and Europe insulin market is primarily driven by factors such as advancements in the healthcare sector, the unmet medical needs, the rising occurrence of obesity and diabetes, and the increasing awareness about diabetes. The U.S. and Europe insulin market is segmented on the basis of drug class, application, geography, and insulin delivery technology. Based on drug class, the U.S. and Europe insulin market is classified into intermediate-acting insulin, fast-acting insulin, and long-acting insulin.

Factors such as the complexity of insulin production, poor storage conditions, improper distribution policies, inconvenient ROA, and a stringent regulatory environment are expected to hamper the growth of the U.S. and Europe insulin market in the years to come. Going forward, the increasing research and development activities to discover new insulin and drugs for diabetics are predicted to create new growth opportunities in the U.S. and Europe insulin market. Further, intense competition among the new vendors and present leading companies are expected to create new trends. The increase in academia-industry collaborations for the development of drugs and the rising prices of insulin drugs are also expected to affect the U.S. and Europe insulin market in the near future.

The U.S. and Europe insulin market features many players manufacturing different kinds of insulin that are meant for Type 1 diabetes and Type 2 diabetes. By insulin delivery technology, the U.S. and Europe insulin market is classified into insulin pumps, oral insulin, injectable insulin, inhaled insulin, and other emerging delivery technologies.

Actrapid, Apidra, Humalog, Insuman, Lantus, Levemir, NovoMix, NovoRapid, Toujeo, and Tresiba are some of the insulin drugs contributing towards the growth of the U.S. and Europe insulin market. Players such as Sanofi, Novo Nordisk, and Eli Lilly are operating in the U.S. and Europe insulin market. Many new companies are expected to enter the United States and Europe insulin market in the years to come.